th investors have started to realize the importance of not putting all their eggs in one basket, said Zi Yu an, head of investment platforms and solutions at UBS Securities. One solution is to hold dif ferent currencies to avoid the possible risk of the exchange rate fluctuation of one single currency. “They are looking at more overseas markets. Different markets sometimes are litt le connected. For example, the Chinese stock market was really disheartening last year. But if an investor all ocated his assets in the US stock market or other markets with high yield bonds, the loss in the Chinese stock m arketRead More →

ecurity cooperation with the international community and will meet heads of several foreign delegations, Wu said at a news conference in Beijing on Thursday afternoon. hina’s tech giant Huawei Technologies Co maintained its ranking as the w orld’s No 2 smartphone vendor, continuing to narr ow the gap with Samsung, the first on the list, market research company Gartner Inc reported. With 71.62 million in smartphone sales, the world’s top vendor Sam sung saw its market share reduce from 20.5 percent to 19.2 percent in the first quarter of this year. Huawei sold 58.4 million units of smartphones in the same p eriod, up 44.5Read More →

President Xi Jinping inspected a company that manufactures high-tech magnetic m aterials as he kicked off an inspection trip to East China’s Jiangxi province on Monday. Xi learned about the business operations of the JL MAG Rare-Earth Co Ltd, based in Ganzhou, which speciali zes in rare earth permanent magnetic materials, as well as the development of the rare earth sector in the city. Ren Zhengfei, founder and CEO of Huawei, said on Tuesday that the US governm ent’s 90-day extension “doesn’t mean much”, adding that the company was ready to deal with the ban. Ren’s comments came after the US Commerce Department said onRead More →

ong the country’s top development priorities in the telecommuni cations industry,” Zhang Feng, chief engineer of the Ministry of Industry and Information Te chnology, said on Friday during the World Telecommunication and Information Society Day. Zhang called for accelerated efforts to set standards in key areas, including 5G, to expedit e the commercialization of this forefront technology and bolster the nation’s core competitiveness. Major Chinese smartphone maker Huawei Technologies Co has a lready unveiled its first 5G chip and first 5G foldable smartphone, the Mate X, which is expected to hit the market in June, despite challenges involving the United States. Also on Friday, shortlyRead More →

hina attaches great importance to innovative development, and it considers new generation artificial intelligence as the driving force for scientific and technolo gical development, industrial optimization and upgrading as well as major productivity improvements while it s trives to achieve high-quality development, President Xi Jinping said on Thursday. Xi made the remark in a congratulatory letter to the World Intelligence Congress, which opened in Tianjin. The president noted that AI is having a significant and far-reaching impact on economic development, social progress and gl obal governance. He expressed hope that participants at this third congress strengthen exchanges, enhance con sensus and step up cooperation toRead More →

China’s Ministry of Commerce on Thursday urged the United States to correct its use of tariffs, and vo wed to take necessary countermeasures if the US’ new tariff plan targeting $300 billion in Chinese imports takes effect. The US government’s bullying behavior and maximum pressure regime on China violate mu ltilateral trade rules, ministry spokesman Gao Feng said at a regular news conference. The office of the United States Trade Representative proposed to take further action by imposing 25 percent of addition al tariffs on Chinese imports with an annual trade value of approximately $300 billion. The USTR is seek ing comment and will holdRead More →

China said late on Monday that it will increase tariffs on the bulk of $60 billion of US imports to three categories of rates between 10% and 25%. For the rest of the $60 billion US imports, the duty rate will remains at 5 percent. The tariffs will hit around 5,000 products and will take effect on June 1. It is China’s latest response to the additional US tariffs on $200 billion of Chinese goods, which were implemented on Friday morning. The move fully demonstrates Beijing’s firm determination to defend its due interest s and legitimate rights in international trade and economic cooperation, according toRead More →

ciple. So every country has important principles, and we absolutely c annot make concessions on such issues of principle,” the vice-premier said. Liu, however, added that he hoped both sides would exhibit flexibility in the talks. He refuted the criticism of the US side that China reneged on its promises in the draft trade text. “We believe that it is only natural to have changes before a final deal; it is something that surely occurs in the process, so we don’t think the Chinese side has back-walked,” he said, adding that he disagreed with the wording of “renege”. “We just had differing views on howRead More →

Investigation underway to find out cause of fire that claimed 41 lives at Moscow airport President Xi Jinping extended condolences to his Russian counterpart Vladimir Putin on Monday over the victims of a fire on a passenger plane on Sunday in Moscow. The landing plane was engulfed in flames, leaving at least 41 dead on Sunday at Sheremetyevo Airport. Xi said in his message that he was shocked that the plane burst into flames as it ma de an emergency landing at She­remetyevo Airport in Moscow, which led to major casualties. On behalf of the Chinese government, the Chinese people and himself, Xi extended deepRead More →

hina will undertake key measures to further integrate the country’s rural and urban areas and encourage the transfer and free flow of people and resources throughout the nation. Measures include relaxing hukou (household registration) barri ers, reforming zoning regulations for rural and residential land, marketing collective land in rural areas for development purposes and increasing infrastructure spending in the countryside. Experts said the new plan, announced by the Communist Party of China Ce ntral Committee and the State Council late on Sunday, is aimed at helping realize steady progr ess in rural revitalization, driving up the process of urbanization and further boosting the economy. ChinaRead More →